Coinbase Global (NASDAQ:COIN) Price Target Raised to $300.00 at HC Wainwright

Coinbase Global (NASDAQ:COIN) had its price target boosted by HC Wainwright from $250.00 to $300.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the cryptocurrency exchange’s stock.

Several other equities analysts also recently weighed in on COIN. The Goldman Sachs Group raised Coinbase Global from a sell rating to a neutral rating in a research report on Friday, March 8th. JMP Securities reiterated a market outperform rating on shares of Coinbase Global in a report on Friday, March 22nd. Bank of America boosted their price target on shares of Coinbase Global from $92.00 to $110.00 and gave the stock an underperform rating in a research note on Wednesday, April 10th. Raymond James upgraded Coinbase Global from an underperform rating to a market perform rating in a research note on Tuesday, March 12th. Finally, Mizuho boosted their target price on Coinbase Global from $84.00 to $145.00 and gave the stock an underperform rating in a research note on Friday, April 12th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Coinbase Global has an average rating of Hold and an average price target of $167.81.

Coinbase Global Price Performance

Coinbase Global stock opened at $218.16 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $52.85 billion, a price-to-earnings ratio of 808.00 and a beta of 3.41. The company’s 50 day simple moving average is $232.50 and its 200-day simple moving average is $163.08. Coinbase Global has a 1 year low of $46.43 and a 1 year high of $283.48.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The company had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. During the same period in the prior year, the firm earned ($2.46) earnings per share. The firm’s revenue was up 51.6% compared to the same quarter last year. As a group, equities research analysts expect that Coinbase Global will post 2.43 earnings per share for the current year.

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 64,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total value of $14,620,800.00. Following the completion of the transaction, the chief financial officer now owns 219,490 shares in the company, valued at $50,142,490.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total value of $9,833,424.90. Following the completion of the sale, the director now owns 4,662 shares in the company, valued at approximately $558,181.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Alesia J. Haas sold 64,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the transaction, the chief financial officer now directly owns 219,490 shares in the company, valued at $50,142,490.50. The disclosure for this sale can be found here. Insiders have sold 542,208 shares of company stock worth $101,867,103 in the last ninety days. 33.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coinbase Global

Hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in Coinbase Global during the 4th quarter valued at approximately $202,936,000. a16z Perennial Management L.P. purchased a new stake in shares of Coinbase Global during the fourth quarter worth approximately $147,646,000. Morgan Stanley lifted its holdings in shares of Coinbase Global by 18.5% during the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after purchasing an additional 511,397 shares during the period. Hamilton Lane Advisors LLC purchased a new position in Coinbase Global in the 4th quarter valued at $88,015,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Coinbase Global by 142.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock valued at $55,047,000 after buying an additional 430,546 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.